Los Angeles

California: The Housing Bubble Returns?

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To read the periodic house price reports out of California, it would be easy to form the impression that house prices are continuing to decline. Most press reports highlight the fact that house prices are lower this year than they were at the same time last year. This masks the reality of robust house price increases that have been underway for nearly half a year. The state may have forfeited seven years of artificially induced house price escalation in just two years but has recovered about one-fifth of it since March.  read more »

Property Owners Pay for City’s Dysfunction Under L.A.’s New Graffiti Ordinance

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Graffiti is a bane of urban life, a form of vandalism that demoralizes entire neighborhoods and invites worse crime.

Graffiti is an art form and an outlet for expression amid the jumble and obvious strains of urban life.

You’ll hear arguments from both of those viewpoints, depending on who you talk to about graffiti.  read more »

The Limits of Transit: Costly Dead-End

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The proposed Chicago Transit Authority (CTA) fare increase and service cuts for next year are indicative of transit’s recurring budgetary problems, and not only in Chicago but nationwide. But in the Windy City, these moves have elicited an understandably negative public reaction since the city of Chicago depends on transit about as much as any city besides New York.  read more »

The White City

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Among the media, academia and within planning circles, there’s a generally standing answer to the question of what cities are the best, the most progressive and best role models for small and mid-sized cities. The standard list includes Portland, Seattle, Austin, Minneapolis, and Denver. In particular, Portland is held up as a paradigm, with its urban growth boundary, extensive transit system, excellent cycling culture, and a pro-density policy. These cities are frequently contrasted with those of the Rust Belt and South, which are found wanting, often even by locals, as “cool” urban places.

But look closely at these exemplars and a curious fact emerges. If you take away the dominant Tier One cities like New York, Chicago and Los Angeles you will find that the “progressive” cities aren’t red or blue, but another color entirely: white.  read more »

Go to Middle America, Young Men & Women

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A few weeks ago, Eamon Moynihan reviewed economic research on cost of living by state in a newgeography.com article. The results may seem surprising, given that some of the states with the highest median incomes rated far lower once prices were taken into consideration. The dynamic extends to the nation’s 51 metropolitan areas with more than 1,000,000 population (See Table).  read more »

Purple Politics: Is California Moving to the Center?

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You don't have to be a genius, or a conservative, to recognize that California's experiment with ultra-progressive politics has gone terribly wrong. Although much of the country has suffered during the recession, California's decline has been particularly precipitous--and may have important political consequences.

Outside Michigan, California now suffers the highest rate of unemployment of all the major states, with a post-World War II record of 12.2%. This statistic does not really touch the depth of the pain being felt, particularly among the middle and working classes, many of whom have become discouraged and are no longer counted in the job market.  read more »

Baseball Goes For Broke

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Other than the banking business, is there an industry more dependent on government handouts, sweetheart tax breaks, and accounting gimmicks than major league baseball?

What other than a baseball depletion allowance explains the economics of a team like the New York Yankees, which is paying Alex Rodriguez $275 million over ten years while building a new $1.3 billion stadium and charging front row season tickets holders $800,000 for a box of four seats?  read more »

California Golden Dreams

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California may yet be a civilization that is too young to have produced its Thucydides or Edward Gibbon, but if it has, the leading candidate would be Kevin Starr. His eight-part “Dream” series on the evolution of the Golden State stands alone as the basic comprehensive work on California. Nothing else comes remotely close.  read more »

Cap And Trade And The Smog Market Ripoff

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Now that Senators have reconvened from summer hiatus, one of their first tasks will be to contemplate the greenhouse-gas cap-and-trade carbon market that President Obama would like to institute to blunt global warming. Their necks better be limber. Partisans of Keynesian, market-based regulations will undoubtedly point to the Midwest's federally run "acid rain" program to reduce harmful power-plant emissions as proof that giving industry profit incentives in cleaning up their operations can be successful.  read more »

Hard Times In The High Desert

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The High Desert region north and east of Los Angeles sits 3,000 feet above sea level. A rough, often starkly beautiful region of scrubby trees, wide vistas and brooding brown mountains, the region seems like a perfect setting for an old Western shoot 'em up.

Today, it's the stage for a different kind of battle, one that involves a struggle over preserving the American dream. For years, the towns of the High Desert--places like Victorville, Adelanto, Hesperia, Barstow and Apple Valley--have lured thousands of working- and middle-class Californians looking for affordable homes.  read more »